Safeway asset sale not viewed as catalyst, says Susquehanna

theflyonthewall.com

Susquehanna believes Safeway's sale of its high return Canadian asset should not be viewed as a catalyst for value expansion but rather should lead to valuation challenges that are not reflected in the current share price. The firm expects the remaining company to trade at a discount to where it was prior to the transaction. Shares are Negative rated with a $14 price target.

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